Monday's Market Minute: Coronavirus, Fed Speculation To Start Week

Global indices are lower to start the week in continuation of last week’s selling. Concerns related to the spread of the coronavirus have investors wondering to what extent it will impact global consumption and global growth. With more than 80 deaths, representatives from the World Health Organization will travel to Beijing to meet with local officials. The ripple effect has been widespread and felt across multiple major markets such as Copper and Soybeans, which traded back to levels we haven’t seen since the first week of December. The U.S. Dollar and Gold have been bid as well, as safe haven migrations also benefited the treasuries – which have been bid with interest rates here in the U.S. falling.

But heads up, because it’s not just coronavirus concerns to pay attention to this morning; we’ve got some closely watched economic data this week and earnings to keep an eye on. At the top of the list, we have the FOMC announcement Wednesday. While they are expected to leave rates unchanged, investors will be listening closely to any hints in terms of future monetary policy decisions.

We also have Gross Domestic Product (GDP), Personal Income and Spending, Housing data, Consumer Sentiment, and more. Lastly, we also have 135 SP500 companies reporting this week, which is roughly 27% of the S&P 500 (INDEXSP: .INX). You can navigate the week with the TD Ameritrade Network for coverage of all the breaking geopolitical news, economic data, and market reaction!

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